The Nigerian Government is aiming towards an annual non-oil export revenue of $100 billion (about ₦30.5 trillion, at ₦305 per dollar exchange rate) through the implementation of the Zero Oil Plan. The projection is contained in a document prepared by the Nigerian Export Promotion Council showing how the plan is to be implemented. The Zero […]
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Lagos Chamber of Commerce has stressed that the Federal Government’s foreign exchange policy is detrimental to non-oil exports and has led to sharp practices and corruption in the export documentation process. The observation was contained in a statement signed by the Director-General, LCCI, Mr. Muda Yusuf, on Friday. It stated that the chamber had received […]
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Nigeria’s non-oil export to the United States under the African Growth and Opportunity Act policy has continued to lag, recording $1.141m in 2016. According to the AGOA trade statistics, non-oil exports to the US under the policy fell by 23.5 per cent from $1.491m in 2015 to $1.141m in 2016. This is as the oil […]
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THE ongoing conflict between stakeholders and the Central Bank of Nigeria over the export repatriation policy, which came into force in February 2015, has forced some non-oil exporters to abandon the sector, while others have gone underground to carry out informal exports, our correspondent has gathered. The CBN had in a circular signed by its […]
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NIGERIAN Export Promotion Council plans to increase non-oil export earnings to $30bn in five years. The Executive Director/Chief Executive Officer of the NEPC, Mr. Segun Awolowo, disclosed this while paying a courtesy call on the Minister of Agriculture and Rural Development, Mr. Audu Ogbeh, in Abuja. Awolowo explained that the NEPC had more recently developed […]
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The Federal Government is targeting fresh $2bn (N394bn) as non-oil export earnings in the 2016 fiscal period. The Managing Director, Nigerian Export-Import Bank, Mr. Robert Orya, disclosed this in Abuja in an interview with our correspondent on the sidelines of a conference on how to stimulate non-oil exports. The conference, organised by the Central Bank […]
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